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NEW YORK (TheStreet) -- Here's what Jim Cramer had to say on CNBC's "Squawk on the Street" Wednesday.
Bank of America/Merrill Lynch upgraded MeadWestvaco (MWV) to a buy based on optimism about the company's restructuring efforts. Cramer added that "it's a very cheap stock." MWV jumped 4.8% to $37.38.
Jefferies says Deckers Outdoor (DECK) is actually doing well while other rating agencies have argued the opposite. "I agree with Jefferies," Cramer announced. DECK rose 45 cents to $83.04.
Credit Suisse upgraded Dick's Sporting Goods (DKS - Get Report) to buy from hold. Cramer said some investors began to worry about the company because retail stocks have been getting hammered lately. That is not the case for DKS, according to Credit Suisse. DKS was 2.1% higher at $56.39.
UBS downgraded PetSmart (PETM) to hold from buy. Cramer thinks the management turmoil has a created "a bit of a nightmare. I don't know if you want to get in front of that." PETM fell 2.4% to $65.48.
"United Rentals (URI - Get Report) is on fire," Cramer said. He said people are now renting their farm and construction equipment from the company rather than buying it because they are still skittish over the longer term. Jefferies raised its 12-month price target to $100. URI rose 3.6% to $81.68.
Goldman Sachs downgraded Hertz Global Holdings (HTZ - Get Report) to hold from buy based on earnings potential, but raised its price target. "On an earnings basis, it's not as attractive as sum-of-the-parts," Cramer said. HTZ fell 2.2% to $26.70.
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-- Written by Bret Kenwell in Petoskey, Mich.